Thursday, 8 May 2014

Lube Report 6 May 2014

May 06, 2014
Volume 1 Issue 18

Lube Report

The heady growth of recent years may be gone for now, but industry insiders remain upbeat about India's lube market. Speakers at a conference said the market is well-stocked with base stocks, is improving in quality and can cope with shorter bright stock supply.

In an engine oil market like China, where many consumers prefer famous brands, there is little room for small, local suppliers. But Nanjing-based Lopal Tech made a place for itself through innovative marketing.

The season’s first earnings reports showed positive trends for Asian lubricant players for the initial quarter of 2014. S-Oil and SK’s base oil and lubricant operations rebounded strongly from poor performance in the first quarter of 2013, while Bangladesh’s MJL Ltd. posted increases in sales and profits.

Evonik said last week that it has moved and expanded its lubricant additives technology center in Japan. The new facility, located in the eastern city of Tsukuba, is four times as large as the old one.

Infineum broke ground last week on a lubricant additives plant in Zhangjiagang, in China's Jiangsu province, a project that it first announced two years ago. Indian Oil Corp. reached an agreement to supply fuels and lubricants to India’s National Security Guard, which provides security for constitutional officers and foreign dignitaries. Bharat Petroleum Corp. Ltd. agreed to supply lubricants to Indraprastha Gas Ltd., which has more than 100 compressed natural gas fueling stations across Delhi National Capital Territory.

Base Oil Reports

Asia Base Oil Price Report

Base oil prices were generally stable, but activity slowed down because of the Golden Week and Labor Day holidays widely observed in Asia at the beginning of May.–by Gabriela Wheeler

No comments:

Post a Comment